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Flats at West Broad Village apartment complex in Henrico sold for $111 million

October 29, 2021

October 27, 2021

Ownership of an apartment complex in the West Broad Village development in western Henrico County has changed hands again after 2½ years.

This time Capital Square 1031, a Henrico-based real estate investment and management company, acquired The Flats at West Broad Village apartment community for $111 million, the company said.

The sale was one of the largest-ever for an apartment complex in the Richmond area.

Capital Square bought the 339-unit apartment community from an entity tied to Pollack Shores Real Estate Group LLC. Atlanta-based Pollack Shores, now rebranded as RangeWater Real Estate, bought the complex for $75.5 million in late 2019.

Before that, Chicago-based ShopCore Properties, a real estate investment trust, had acquired the property for $85.86 million in October 2012.

The apartment complex at 3930 Wild Goose Lane at Old Brick Road was assessed for $73.196 million, according to online county property records.

The complex, which opened in 2009, offers 28 various floor plans for one-, two- and three-bedroom apartment units. It features about 9,000 square feet of amenity space, including a fitness center, a resort pool with sundeck and cabanas, and a billiards room.

The Flats at West Broad Village is on 4.86 acres and the complex is within walking distance of about 380,000 square feet of retail and restaurant space in West Broad Village, including anchor tenants Whole Foods, HomeGoods and REI.

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